Financial News: Australia Inflation Rises 0.3% In Q1

Australia Inflation Rises 0.3% In Q1

04/28/2020 - 21:45:00 (RTTNews)

(RTTNews) - Overall consumer prices in Australia were up 0.3 percent on quarter in the first quarter of 2020, the Australian Bureau of Statistics said on Wednesday. That exceeded expectations for an increase of 0.2 percent and was down from 0.7 percent in the three months prior.

On a yearly basis, inflation climbed 2.2 percent - again topping forecasts for 2.0 percent and up from 1.8 percent in Q4.

The Reserve Bank of Australia's trimmed mean was up 0.5 percent on quarter and 1.8 percent on year following the 0.4 percent quarterly increase and the 1.6 percent yearly gain in the previous three months.

The RBA's weighted median was up 0.5 percent on quarter and 1.7 percent on year after adding 0.4 percent on quarter and 1.3 percent on year in the fourth quarter.